SECURITIES EXCHANGE ACT OF 1934
Release No. 41178 / March 17, 1999
Administrative Proceeding
File No. 3-9849
COMMISSION INSTITUTES ADMINISTRATIVE PROCEEDINGS AGAINST
DANIEL L. KOEHLER
The Securities and Exchange Commission today announced the
institution of administrative proceedings against Daniel L.
Koehler ("Koehler"). The Order Instituting Proceedings is
based on the Order of Permanent Injunction and Other
Equitable Relief by Default entered against Koehler on
December 4, 1998 in SEC v. Omni International Trading, Inc.,
et al., 97 CIV 2116 (D.Minn.), pursuant to the Commissionís
Complaint.
The Complaint alleged that, from in or about January 1991
through in or about February 1995, Omni and the other
defendants, including Koehler, defrauded public investors
through the offer and sale of over $4 million in Omni
securities. These securities were not registered with the
Commission. Throughout this time period, the Complaint
alleged that Koehler and the other defendants, in connection
with the offer and sale of these Omni shares, made numerous
misrepresentations and omitted to state material facts
regarding, among other things, Omniís future revenues, the
use of proceeds, the listing of Omni securities for trading
on the National Association of Securities Dealers Automated
Quotations system, a purported tender offer, the expected
profit to be made on the tender offer and the commissions to
be earned. In addition, the Complaint alleged that Koehler
and others acted as an unregistered broker or dealer.
A public hearing will be held to determine whether the
allegations in the order are true, to offer Koehler an
opportunity to establish any defenses to the allegations,
and to determine what remedial sanctions, if any, are
appropriate.